The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1887-05-18
CHARTER
OF THE
RAPIDES COMPRESS COMPLY
OF THE

I
PARISH OF RAPIDES.
DE IT KNOWN THAT ON THIS THE
u eighteenth day of April, Ammo Domi-
nj eighteen hundred and eighty seven, be-
fore me, George o. Watts, Clerk and cx-
otficio Notary Public, in and for the Par
ish and State aforesaid, duly commission
ed and qualified according to law, and in
the presence of the undersigned compe-
tent witnesses, personally came and APP
pearea Julius Levin, George w. Bolton,
Robert w. Bringhurst, Albert Pettengili,
Noble l.. McGinnis and Louis V. Marye,
residents of this Parish and State, who
severally and jointly declared that avail
ing themselves of the provisions of the
laws OF the State of Louisiana relative to
the organization of corporations, they
have formed and do by these presents
form and organize themselves into cor
poration aud body polite in law for the
purposes and nnder the following stipuls-
tiOns, agreements and articles Io-wit:--
ARTICLE /. The name and title of this
corporation shall be s'The Rapides Com
press Company and by that name it
shall have succession and corporate exis-
tence for and during the term of ninety
nine years from date hereof, unless sooner
dissolved, in the manner hereinafter men,
toned. The legal domicil of this corpora
ton shall be the City of Alexandra, in
he Parish of Rapides, State of Louisiana
1t shall have power and authority to pur-
chase and convey both real and personal
property, and shall have corporate seal,
such as may be agreed upon by the Board
of Directors.
| ART. 2. The objects and purposes of this
corporation are hereby declared to be the
COMPRISING OF cotton for domestic and
foreign shipment, and the weighing and
handIng of cotton.
ART. 3. The capital stock of this corpo-
ration is hereby fixed at thirty thousand
dollars, to be divided into shares of TWEEN
ty-five dollars each, ten per cent of which
shall be paid at the time the subscription
is made, and the balance to be paid i'll in
stallments OF ten per cent at such times as
the Board or Directors shall determine 3
provided. however, that thirty days no.
tice he published by one insertion in one
of the city papers prior to the day of pay
ment; and should any stakeholder fail to
pay any installment as the same may lie
called for, the Board of Directors shall
have the right to declare his stock, to-
gether with all payments made thereon,
forfeited to and for the benefit of this cor
poration. The stock Of this corporation
may be increased to fifty thousand dollars
by a majority vote of the stockholders
and this corporation may begin opera
tons when fifteen thousand dollars shall
have been subscribed.
ART. 4. The corporate powers of this
corporation shall be vested in Board OF
six Directors, composed of the stockhol-
ders of this corporation to be elected an
nually, four Of when shall form I, quo
rum, and their acts shall be valid corpe-
rate. acts, aud no stakeholder shall be-
come Director unless he holds in lis own
right four shares of the capital stock
Tie first Board of Directors under this
charter shall be:-Jnlius Levin, George
w. Bolton, Robert w. Bringhurst, Albert
Pettengill, Noble L. McGinnis and Louis
V. Marye, and they shall elect from
among their number a President, and a
Vice-P President to act III the absence OF the
President, and shall appoint saeh ether
Officers and employees as they may deem
proper to serve during their pleasure
The aforesaid Board shall continue to act
until the first annual election of Directors,
which shall take place on the first Mon
day in May, 1888. The present Board Of
Directors shall ut that time give notice in
one of the City papers of said election by
two publications, and at the said election
of Directors each and every share of stock
shall be entitled to one vote, and every
stakeholder shall be entitled to vote in
person OF by proxy, and all elections pro.
vitled for by this charter shall be by bal
| lot. This said Board Of Directors shall
make such bylaws and rules and regula
tious as they may think proper, and il
the event of any vacancy in the said
| Board from death or otherwise, the Dlrec.
| tors shall elect one of the stockholders tt
| fill he,yacancy.
ART. 5. The President of this corpora
ton shall be the proper officer upon whom
citation shall be served, OF in his absence
upon the Vice President.
ART. 6. This corporation shall have til.
power and authority TO contract, sue ant
be sued under it's corporate name, and t.
mortgage and hypothecate under its cor
porate name property both real and per
sonal, and shall have and enjoy all TIN
nature in this State.
ART. Z. No stakeholder shall be hell
liable for the faults, obligations or con
tracts of this corporation for any create
amount than the unpaid balance due t
the corporation on his stock.
/ ART. 8. This corporation may be dis
solved by two-thirds vote of its stock
holders as represented by the capita
stock, and it shall than be liquidated b.
three commissioners to be chosen from
the said stockholders at special election
for that purpose, and they shall hold OF
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